New home closings in the Pittsfield, MA market remained steady year-over-year in January, staying flat after dropping year-over-year in December from the year earlier. Closings remained level at none from a year earlier after the figure moved from 1 in December 2013 to none in December 2014. New home closings moved from none a year earlier to none after the figure moved from 1 in December 2013 to none in December 2014.
For new and existing homes, closings fell in January after also declining in December year-over-year.
Other Market Trends
Foreclosures and real estate owned (REO) closings continued to decline from a year earlier in January, but did not look to be a burden on the market. Out of all existing home closings, foreclosures combined with REO closings represented 12.5% of closings, below 17.0% a year earlier. The percentage of existing home closings involving foreclosures sank to 4.5% in January from 7.1% a year earlier while REO closings as a percentage of existing home closings slid to 8.0% from 9.8% a year earlier.